Sodium Silicate Market Industry Survey, Market Size, Competitive Trends, Outlook and Forecasts To 2023
The Sodium Silicate Market was worth USD 4.28 billion in the year 2014 and is expected to reach approximately USD 4.86 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 1.42% during the forecast period.
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The worldwide sodium silicate market is anticipated to encounter a critical development over the figure time frame. Sodium silicate generally known as water glass or fluid glass is outstanding because of wide business and modern application. Sodium Silicate items are fabricated as solids or thick fluids, contingent upon proposed utilizes. Moreover, Sodium silicate is a flexible, inorganic chemical made by joining different proportions of sand and pop fiery remains (sodium carbonate) at high temperature.
On the basis of application, the worldwide sodium silicate market is segmented into Detergents, Catalysts, Pulp & paper, Elastomers, Food & healthcare and other applications. Detergent application section is expected to generate highest market share over the forecast period owing to its increased applications across the globe.
North America held a significant share of the Sodium Silicate Market in 2014 due to the increasing investments in the gas and oil refinery processing and rising agriculture, waste water treatment and construction activities. The Asia-Pacific market has not experienced any substantial growth due to high pricing and low Government initiatives towards this market, but can experience favorable growth in coming years owing to increasing in disposable income in the region.
Major Market Players:
The major players in the market are PQ Corporation, OxyChem Corporation, W.R. Grace & Company, and PPG Industries.
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The Sodium Silicate Market is segmented as follows-
By Application: Detergents, Catalysts, Pulp & paper, Elastomers, Food & healthcare, Other Applications
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